The results led chief Janet Robinson to explain that the Times is
still attempting to transition from a print-focused company
to a multiplatform operation with its
just-launched digital paywall.

"Our operating performance reflects the continuing transformation
of our company, which intersected with an important milestone in
the first quarter," Robinson said in a statement. "While the
challenges for our Company and for the larger economy are not yet
behind us, the recent launch of Times digital subscription
packages on NYTimes.com and across other digital platforms brings
our plan for a new revenue stream to life, offering us another
reason for optimism about the future of our company."

Digital subscription packages are outselling the company's
expectations, she said, though the Times did not disclose
subscription figures in its earnings statement.

"We are pleased with the number of subscribers we have acquired
to date, as initial volume has meaningfully exceeded our
expectations," Robinson said.

The company pinned the bulk of the blame for its quarterly woes
on print advertising revenues, which fell 7.5 percent during the
quarter.